Post Tagged with: "Permian"

Saulsbury and Apache to Add to Permian Gas Processing Capabilities

Saulsbury and Apache to Add to Permian Gas Processing Capabilities

Saulsbury was recently awarded a contract to construct three cryogenic processing plants at Apache’s Diamond processing facility, each designed with a capacity of 200 MMSCFD.

Saulsbury Industries is a 50-year-old full-service engineering, procurement, construction (EPC) and maintenance contractor specializing in …

June 18, 2018 - 1:06 pm Closing Bell Story‎, Energy News, Natural Gas News
Rising Tide of Produced Water Could Pinch Permian Growth

Rising Tide of Produced Water Could Pinch Permian Growth

From the Journal of Petroleum Technology

As oil production rises in the Permian, the even larger volumes of water from those wells is becoming a pressing problem for many operators, particularly those drilling in the wetter western half of the …

June 13, 2018 - 3:40 pm Closing Bell Story‎, Energy News
First Commercial, Truckless Produced Water Hub in Texas: Completed

First Commercial, Truckless Produced Water Hub in Texas: Completed

From PR News Wire

H2O Midstream recently completed construction of the first commercial, “truck-free”, produced water storage and disposal hub in the state of Texas. The Railroad Commission of Texas issued H2O Midstream the commercial permit for one million barrels …

June 13, 2018 - 6:16 am Closing Bell Story‎, Energy News, Midstream
EnCap-Backed PetroLegacy Snags 20,000 Midland Acres from Pioneer

Private Funds Launch New Midland Basin Oil Company

Newly formed DoublePoint Energy LLC holds one of the largest private land positions in the core of the Midland 

Double Eagle Energy Holdings III of Ft. Worth and Denver’s FourPoint Energy have formed DoublePoint Energy LLC, a new pure-play Midland …

Apache CEO Christmann: Coping with Bottlenecks and Pricing Differentials in the Permian

Apache CEO Christmann: Coping with Bottlenecks and Pricing Differentials in the Permian

We are starting to layer in projects … to move our various products to the markets: Christmann

Pipeline bottlenecks have begun to plague producers in the U.S.’s top producing oil basin. For one thing the price they can get for …

CEO Says It’s Getting Tough for Smaller Drillers

CEO Says It’s Getting Tough for Smaller Drillers

From the San Antonio Express-News

Pipeline bottlenecks in the Permian Basin are hurting prices for cash-strapped producers

Bob Watson said his company is in the process of selling its Eagle Ford land, which totals more than 14,000 acres, according to …

Callon Petroleum Expands Permian Footprint with $570 Million Delaware Purchase

Callon Petroleum Expands Permian Footprint with $570 Million Delaware Purchase

Consolidation continues in the Permian, with Callon Petroleum (ticker: CPE) purchasing $570 million in assets Thursday.

Callon intends to acquire 28,657 net acres in the Delaware, primarily in Ward and Loving Counties, from Cimarex Energy (ticker: XEC). This acreage is …

Lilis Adds Crude Gathering Capacity

Lilis Adds Crude Gathering Capacity

Permian E&P Lilis Energy, Inc. (ticker: LLEX) has entered into a crude oil gathering agreement with Salt Creek Midstream, LLC. Salt Creek’s system will be constructed, managed and operated by ARM Midstream Management, LLC. Construction of the project is expected …

What’s Worth More to the State of Texas—Land or Oil?

Junior Canadian Texas and New Mexico Producer Goes Public

Permex Petroleum Corporation (ticker: OIL) has completed its initial public offering of 8,135,500 common shares at a price of $0.50 per share for proceeds of $4,067,750.

The shares were listed on the Canadian Securities Exchange (CSE) on May 15, 2018 …

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

Occidental Petroleum Corporation (ticker: OXY) reported a core income of $708 million for the first quarter of 2018, or $0.92 per diluted share. Total average daily production volumes were 609,000 BOE for the first quarter of 2018, compared to 621,000 …

Cimarex Produced 206 MBOEPD in Q1, with 55% from the Permian

Cimarex Produced 206 MBOEPD in Q1, with 55% from the Permian

Cimarex running 13 rigs: 10 in the Permian, 3 Mid-Con

Cimarex Energy Co. (ticker: XEC) reported first quarter 2018 net income of $186.3 million, or $1.96 per share. Total company production for the quarter came in at the high end …

Source: Enbridge

As Permian and Canadian Crude Output Hits Pipeline Limits, Lower Supply is a Threat

Investors not appreciating impact of tight capacity as yet: analyst

From Bloomberg

North America’s great oil surge of 2018 amid the highest oil prices in more than three years is threatened by pipeline gridlock from West Texas to Alberta and …

Permian Juggernaut Concho Resources Reports $835 Million Net Income for Q1

Permian Juggernaut Concho Resources Reports $835 Million Net Income for Q1

Producing 228 MBOEPD, Running 20 Rigs

Concho Resources Inc. (ticker: CXO) bought home a net income of $835 million, or $5.58 per diluted share for Q1 2018. Last year at this reporting period, Concho had a net income of $650 …

Shale Efficiency Did an End Run Around a Permian Job Boom

Shale Efficiency Did an End Run Around a Permian Job Boom

Why hasn’t the Permian boom generated a boom for Texas oil and gas jobs?

From the Dallas Morning News

Texas added barely any oil and gas jobs last year even as the state continued to dominate the industry, according to

Enterprise Rings in Q1 with $912 Million

Enterprise Rings in Q1 with $912 Million

Enterprise Products Partners L.P. (ticker: EPD) recorded the first quarter of 2018 with a net income of $912 million, or $0.41 per share. Last year, in Q1 2017, the company reported a net income of $761 million, or $0.36 per …

Gray Oak Pipeline Links Permian’s Oil to Corpus Christi’s Refining and Exports

Gray Oak Pipeline Links Permian’s Oil to Corpus Christi’s Refining and Exports

Expanded pipeline could grow to one million barrels per day of oil takeaway

Andeavor (ticker: ANDV), formerly known as Tesoro, will be partnering up with Phillips 66 Partners (ticker: PSXCP) and Buckeye Partners, L.P. (ticker: BPL) in two projects that …

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

100% year-over-year growth in Midland Basin production; realized price is SM’s highest level in 14 quarters: $37.76/BOE average

Midland Basin operations up to nine rigs and five completions crews; SM expects to double completions in Q2

The Midland Basin produced …

Permian Land Rush is Over: Big Players will Now Gobble Up Smaller Ones

Permian Land Rush is Over: Big Players will Now Gobble Up Smaller Ones

From the Houston Chronicle

With the top acreage gobbled up, few companies are staking new claims. Instead, the industry is entering a new phase of consolidation that will likely drive small and mid-sized firms from the West Texas shale play …

Lilis Energy Makes Executive Changes

Lilis Energy Makes Executive Changes

Permian E&P Lilis Energy, Inc. (ticker: LLEX) has appointed Ronald D. Ormand to CEO, in addition to his position as chairman of the board.

James W. Denny III has been appointed EVP of production and operations, and the board of …

Closed and Closed: WildHorse, WPX Divest Assets

Closed and Closed: WildHorse, WPX Divest Assets

WPX Energy (ticker: WPX) has closed the San Juan Basin oil play sale to Enduring Resources IV, LLC for $700 million. A significant portion of the proceeds are slated for debt reduction, WPX said, and the company now believes it …

Concho Announces Largest Permian Deal Ever

Concho Announces Largest Permian Deal Ever

$9.5 billion purchase of RSP Permian

M&A activity in the Permian has come roaring back, with Concho Resources (ticker: CXO) announcing the biggest deal ever seen in the basin.

Concho will acquire RSP Permian (ticker: RSPP) in an all stock …

Halliburton Nisku, Alberta Canada
Victor Gribansiciy
November 2006

American Energy Imports Lowest Since 1982

U.S. continues to import less while exporting more

Total net energy imports to the United States fell to 7.3 quadrillion BTUs (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and …

Bohrturm, Österreich: Weißer Hof 2014

ProPetro Profitable in 2017, Approaches One Million HHP

Permian-concentrated oilfield service provider ProPetro Holding Corp. (ticker: PUMP) had a net income of $12.6 million, or $0.16 per share for 2017. In Q4 2017 the company had a net income of $10.1 million, or $0.12 per share. The company …

Lilis Energy’s Permian Takeaway Starts Operations, Production Now Beyond 5,000 BOEPD

Lilis Energy’s Permian Takeaway Starts Operations, Production Now Beyond 5,000 BOEPD

Thanks to new takeaway capacity, company looks at additional growth in 2018

Permian E&P Lilis Energy, Inc. (ticker: LLEX) said its third-party operated midstream system has commenced operations. The company also said that its current production is exceeding 5,000 BOEPD …

Tellurian Keeps Sailing

Tellurian Keeps Sailing

Tellurian Inc. (ticker: TELL) wrapped up its first year as a public company, ending 2017 with $128.3 million of cash and cash equivalents. The company remains debt free, but reported a net loss of $231.5 million, or $(1.23) per share …

DCIM101MEDIADJI_0116.JPG rig

Lilis Energy Closes Delaware Basin Purchase for $65.3 Million, Acquires 2,798 Net Acres

Lilis Energy, Inc. (ticker: LLEX) has closed a deal to acquire approximately 2,798 net acres in the southeastern New Mexico area of the Delaware Basin. The deal was part cash ($40 million) and part stock (~6.9 million shares, or ~$25.3 …

EP Energy: Completed 71 Permian, 43 EF Wells in 2017

EP Energy: Completed 71 Permian, 43 EF Wells in 2017

‘A couple of engineers are significantly less expensive than a poorly completed well – EP’s Russell Parker’

On February 28, 2018 Ep Energy Corporation (ticker: EPE) announced fourth quarter and year-end 2017 financial and operational results.

Key highlights

  • New leadership
Hi-Crush Sells 8.93 Million Tons of Frac Sand in 2017

Hi-Crush Sells 8.93 Million Tons of Frac Sand in 2017

Hi-Crush Partners LP (ticker: HCLP) reported its Q4 and full year 2017 results. Revenues for the fourth quarter of 2017 totaled $216.5 million on sales of 2,985,115 tons of frac sand. This compares to $167.6 million of revenues on sales …

Occidental Petroleum Averaged 621 MBOEPD in Q4

Occidental Petroleum Averaged 621 MBOEPD in Q4

Occidental Petroleum Corporation (ticker: OXY) reported net income of $497 million, or $0.65 per diluted share, for the fourth quarter of 2017, compared with $190 million, or $0.25 per diluted share, for the third quarter of 2017.

Core income for …

Halcon Resources Snaps Up 22,617 Delaware Acres

Halcon Resources Snaps Up 22,617 Delaware Acres

Halcon Resources Corporation (ticker: HK) has recently entered into definitive agreements to acquire 22,617 net acres in Ward County, Texas for approximately $381 million.

The properties are currently producing ~1,325 BOEPD which equates to a purchase price of ~$14,674/acre (after …